The economy of Jamaica expanded 1.7 percent year-on-year in the first quarter of 2019, following a 2 percent growth for the previous quarter. Slower expansion was mainly explained by primary activity (+0.3 percent vs +3.1 percent in Q4 2018), mining (+11.1 vs +25.0 percent) manufacturing (-1.4 percent vs +2.0 percent), and construction (+3.4 percent vs +3.7 percent). In contrast, utilities rebounded 1.9 percent after shrinking 0.3 percent in the previous three months. On a quarterly basis, the economy shrank 0.4 percent following a 0.8 percent contraction. GDP Annual Growth Rate in Jamaica averaged 0.56 percent from 1997 until 2019, reaching an all time high of 4.30 percent in the fourth quarter of 2006 and a record low of -4.60 percent in the second quarter of 2009.
GDP Annual Growth Rate in Jamaica is expected to be 1.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Jamaica to stand at 2.10 in 12 months time. In the long-term, the Jamaica GDP Annual Growth Rate is projected to trend around 2.30 percent in 2020, according to our econometric models.